Canada Pension Plan Investment Board Acquires New Position in Citi Trends, Inc. $CTRN

Canada Pension Plan Investment Board acquired a new stake in Citi Trends, Inc. (NASDAQ:CTRN) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 14,800 shares of the company’s stock, valued at approximately $856,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Legal & General Group Plc acquired a new stake in Citi Trends during the 2nd quarter worth $30,000. Group One Trading LLC acquired a new position in shares of Citi Trends in the 2nd quarter valued at $94,000. Paradigm Capital Management Inc. NY acquired a new position in shares of Citi Trends in the 2nd quarter valued at $2,751,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Citi Trends in the 2nd quarter worth $398,000. Finally, Quantbot Technologies LP bought a new position in shares of Citi Trends in the 2nd quarter worth $556,000.

Citi Trends Stock Performance

NASDAQ:CTRN opened at $68.07 on Tuesday. The stock has a 50-day simple moving average of $65.64 and a 200 day simple moving average of $53.26. Citi Trends, Inc. has a 52-week low of $29.60 and a 52-week high of $77.91. The company has a market cap of $567.02 million, a PE ratio of 83.01 and a beta of 1.82.

Citi Trends (NASDAQ:CTRN) last announced its quarterly earnings data on Tuesday, August 25th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.37. The business had revenue of $211.63 million for the quarter, compared to analyst estimates of $211.60 million. Citi Trends had a net margin of 0.84% and a return on equity of 8.25%.

Analyst Ratings Changes

A number of brokerages recently commented on CTRN. Wall Street Zen raised Citi Trends from a “hold” rating to a “buy” rating in a research note on Monday, June 29th. DA Davidson set a $81.00 target price on Citi Trends in a research note on Wednesday, August 26th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Citi Trends in a report on Wednesday, August 26th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Citi Trends presently has a consensus rating of “Moderate Buy” and an average price target of $81.00.

About Citi Trends

Citi Trends, Inc (NASDAQ: CTRN) is an off-price retail apparel chain that focuses on value-priced urban fashion apparel and accessories for men, women, and children. Headquartered in Savannah, Georgia, the company offers a broad assortment of merchandise, including denim, sportswear, activewear, and seasonal styles, complemented by footwear, jewelry, cosmetics, and home goods. Through its purchasing model, Citi Trends sources closeouts, overstocks and canceled orders from name-brand vendors, enabling it to offer trending styles at competitive price points.

The company operates more than 500 stores across the Southeastern and Mid-Atlantic regions of the United States, with typical store footprints of approximately 11,000 square feet.